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what it is
America Movil sells wireless, internet, TV, and landline service across Latin America.
how it gets paid
Last year Amx made $42.9B in revenue. Wireless services was the main engine at $23.0B, or 54% of sales.
what just happened
You got a 12.9% EPS beat, while the December quarter grew 6.2% in constant currency.
At a glance
A balance sheet — strong enough to weather a downturn
40/100 earnings predictability — expect surprises
16.6x trailing p/e — the market's not buying it — or you found a deal
2.4% dividend yield — cash in your pocket every quarter
14.0% return on capital — nothing to write home about
xvary composite: 70/100 — average
What they do
America Movil sells wireless, internet, TV, and landline service across Latin America.
You do not unwind a carrier with 383.8 million wireless subscribers and 80.5 million landlines overnight. Leaving is painful when your phone, home internet, and TV sit on one bill. The Slim family owns 29.2% of class B shares, so control is not a quarterly debate.
How they make money
$42.9B
annual revenue
Wireless services
$23.0B
+6.2%
Fixed-line services
$8.9B
+1.0%
Broadband internet
$5.4B
+5.0%
Pay TV
$3.6B
1.0%
Equipment and other
$2.0B
+3.0%
The products that matter
mobile network services
wireless
270M+ subscribers
this customer base supports the broader $42.9B revenue engine across 20+ countries. in telecom, the subscriber count is not trivia — it is the business.
core cash flow
home connectivity
broadband and pay tv
$42.9B total revenue base
the snapshot does not show a segment split, but bundled household services matter because customers get harder to lose when one bill covers more than one connection.
stickier revenue
regional telecom brands
Telcel and Claro
$72B market cap
you are not buying one product cycle. you are buying network reach, billing relationships, and brand presence spread across much of latin america.
scale moat
Key numbers
16.6x
trailing p/e
You pay 16.6 times trailing earnings for a carrier with an A balance sheet. That is not a fire sale, but it is not a meltdown price either.
42.5%
operating margin
Operating margin means profit after running costs, before interest and taxes. At 42.5%, AMX keeps more than four-tenths of each sales dollar.
2.4%
dividend yield
Dividend yield means cash paid to you each year as a share of the stock price. At 2.4%, the payout is real, but it is not the whole story.
$26
target price
The 18-month target is $26 versus $23.76 now. That is a small gap, which means the market already likes the story.
Financial health
A
strength
- balance sheet grade A — very strong financial position
- risk rank 2 — safer than 80% of stocks
- price stability 80 / 100
- long-term debt $24.0B (25% of capital)
- net profit margin 10.0% — keeps 10 cents of every dollar in revenue
- return on equity 24% — $0.24 profit for every $1 investors have put in
A with balance sheet grade and risk rank standing out. your money faces less risk here than at most public companies.
Total return vs. market
You invested $10,000 in AMX 3 years ago → it's now worth $12,610.
The index would have given you $13,880.
source: institutional data · total return
What just happened
beat estimates
You got a 12.9% EPS beat, while the December quarter grew 6.2% in constant currency.
EPS came in at $0.35 versus $0.31 expected. The company said net income was four times the year-earlier level as financing costs were cut roughly in half.
$0.35
eps
12.9%
surprise
4.0x
net income
the number that mattered
The 12.9% EPS beat mattered because it showed profit held up even as financing costs fell and revenue grew 6.2% in constant currency.
-
america movil has seen its stock price recover nicely thus far in 2026, driven by solid results.
-
free cash flow for the full year 2025 surged nearly 40%, marking the payoff from years of heavy 5g and fiber-optic investment across its 25country footprint.
-
december quarter revenue rose 6.2% at constant exchange rates, and ebitda expanded 6.9%.
-
net income was four times the year-earlier figure as financing costs were cut roughly in half.
-
those results drove the stock to a 52-week high near $25 per adr in late february.
source: company earnings report, 2026
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What could go wrong
the main risk is not that people stop using phones. it is that a mature telecom with 270M+ wireless subscribers starts looking more mature in the numbers than the current rerating allows.
med
subscriber scale stops translating into growth
270M+ wireless subscribers is the moat and the ceiling. when a carrier is already this large, growth has to come from pricing, upgrades, or winning share in markets that are already crowded.
if the path from $42.9B revenue to the $64B fy2029 estimate starts breaking, the valuation case looks less generous than 16.6x suggests.
med
network spending eats the return story
telecoms never finish spending. $24.0B of long-term debt and 25% of capital in debt are manageable with an A balance sheet, but they still sit next to a business earning 14.0% return on capital, not 30%.
if capex or financing costs rise faster than pricing power, the 10.0% net margin is the first line that feels it.
med
20+ countries means 20+ ways to surprise you
this is a regional scale story, which also means a regional complexity story. more regulators, more currencies, and more local pricing politics sit between operating performance and your ADR.
you are not taking one-country telecom risk. you are taking a portfolio of telecom, currency, and regulatory risk under one ticker.
AMX is stable until currency, Mexico rules, or capex eat the 5.0% growth story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
ownership
whether 3 straight quarters of net buying becomes four
the recent rerating has had institutional support. if that flow stalls with the stock already near $24, the setup gets less forgiving.
revenue path
whether $42.9B can credibly move toward $64B
that forecast implies about 49% growth by fy2029. for a mature telecom, that is not impossible. it is also not something you assume for free.
returns
whether return on capital climbs above 14.0%
a better chart is nice. a better business is better. if returns stay stuck while the multiple expands, you are paying more for the same machine.
next update
whether the next filing gives cleaner segment detail
the free snapshot is thin on wireless versus broadband mix. more disclosure would tell you whether the growth story is broad or coming from one pocket of the business.
Analyst rankings
earnings predictability
40 / 100
the business is steadier than the accounting line. in human-speak, reported earnings can get messy even when the subscriber base looks durable.
risk rank
2
safer than about 80% of stocks. you are still taking emerging-market telecom risk, but not with a fragile balance sheet.
price stability
80 / 100
the shares have behaved more like a telecom than a trading toy. if you want adrenaline, this is the wrong page.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 100 buyers vs. 79 sellers in 4q2025. total institutional holdings: 0.2B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$20
$31
$24
current price
$26
target midpoint · +9% from current · 3-5yr high: $35 (+45% · 12% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
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